Please describe your proposed solution.
Compliance is a set of procedures and best practices adopted by organizations to identify and classify the operational and legal risks they face and to establish internal mechanisms to prevent, manage, control and react to them.
Making the elements of compliance available in a facilitated manner has a major impact on project processes. However, the challenge is how to do this in order to effectively train them to ensure that they take in and retain the information provided. Some people need hands-on experience to really get to grips with a topic and others would prefer to simply read. Therefore we will facilitate through an easily accessible and readable manual document that includes simple examples.
It makes no sense in the environment we find ourselves in to summarize the rules or procedures for each country and time, especially considering that those rules are constantly changing, what is required is to have the judgment and ability to make the right decision at the right time. Everyone has a different understanding of what compliance is and what it is not, based on a number of factors such as their previous work experience and previous education. With this process we will put everyone on the same level of understanding.
Proposers have in our proposal a tool to be prepared to deal with non-compliance situations, which is as important as establishing controls to prevent non-compliance.
This is a Bilingual tool (English, Spanish).
OBJECTIVES
Define compliance and its importance
Identify the scope of compliance requirements and strategies to meet them
Describe the lessons learned from high profile compliance failures
List factors that incentivize organizations to comply
Distinguish between financial and non-financial drivers of non-compliance
Summarize the legal responsibilities placed on the board of directors and audit committee to ensure compliance
Describe the positive value of compliance for individual companies and the market as a whole
Explain the importance of a Code of Conduct and detailed policies and procedures in creating a compliance program.
Identify the need to monitor employee conduct to ensure compliance.
Describe the importance of employing a variety of techniques to enforce compliance within an organization.
Select strategies for managing incident response in the event of non-compliance.
Please describe how your proposed solution will address the Challenge that you have submitted it in.
Internalizing compliance is the strategy of this idea. Compliance
is a set of procedures and best practices adopted by organizations to identify and classify the operational and legal risks they face and to establish internal mechanisms to prevent, manage, control and react to them. In order for projects to have legal and financial frameworks for their projects, they must start from a practical and easily implemented strategy. Legal or financial expertise is not so easily transmitted, for that you need in many cases an expert lawyer or a financier on a permanent basis, since these are professions that work with specific concepts or actions for each case.
Compliance generates an internal strategy that makes it possible to anticipate risks and prepare projects regardless of the previous training and general knowledge of the person who incorporates them.
What are the main risks that could prevent you from delivering the project successfully and please explain how you will mitigate each risk?
The compliance information is specialized and should be made available to a general public, facilitating its use and understanding. There will be a risk that users will have many doubts about the information provided, however for this reason a communication channel will be created to answer questions and make adjustments to the information if necessary.